After billionaire Mukesh Ambani-led conglomerate Reliance Industries (RIL) reported largely in-line earnings for the March quarter, driven by an improvement in O2C throughput, brokerages have increased target prices amid positive comments from the management around capex moderation and hints of potential telecom tariff hikes.
RIL shares, which have gained around 14% in the calendar year so far, were trading flat in Tuesday’s morning trade but brokerages have increased their targets going up to Rs 3,500-mark.
